D. T or F Learn More. B) the interrelationships among the primary activities of the firm and corporate management. The balanced scorecard enables managers to consider their business from all of the following perspectives except. This makes knowledge an intangible resource. When a company's resources are valuable but not rare, the company is said to have which element? A) supports only individual primary activities. C) Organizational routines. Why did it cause this change? ~~~~~\text{Gasoline purchases} & & 85.00 & 101.70\\ Examples of tangible resources (in the resource-based view of the firm) include: A) financial resources, human resources, and firm competencies. False Physical assets such as a firms property, plant, and equipment, as well as cash, are considered to be tangible resources. Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors. A strategic resource is an asset that is valuable, rare, difficult to imitate, and organized to capture value (Barney, 1991; Chi, 1994). O - Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to aparticular market niche In a nod to Southwest Airlines outstanding reputation, the firm ranks eighth in Fortune magazines 2018 list of the Worlds Most Admired Companies.. Question: What is the average total cost when two units of labor (L) are employed? What is this an example of. C) supports both individual primary and support activities and the entire value chain. Solved 5. Which of the following is considered an intangible - Chegg For example, Southwests culture is complemented by approaches that individually could be copiedthe airlines emphasis on direct flights, its reliance on one type of plane, and its unique system for passenger boardingto create a unique business model whose performance is without peer in the industry. Low cost O - At Intel the key historic decision to abandon memory chips and concentrate uponmicroprocessors was the result of which of the following? Which of these categories of financial ratios is used to measure a company's ability to meet its short-term financial obligations? Ans. Social complexity is defined as the socially intricate and interdependent ways firms are typically organized. Knowledge Despite having three of the four properties of strategic resources, water in the United States has remained cheap; however, this may be changing. A firm's tangible resource includes which of the following? If yes, go to number 4. O - A firm's tangible resource includes which of the following? To most individuals, cash is an important resource. Option D is the right choice here. B) Capacity for innovation. The CEO decides to move the firm's textile manufacturing back to the US to capitalize on the increasing pressure from shareholders to process textiles in the US. DIFFICULT-TO-IMITATE resources often involve legally protected intellectual property such as trademarks, patents, or copyrights. What tangible and intangible resources does your favorite restaurant have that might give it a competitive advantage? A US firm has outsources its textile manufacturing to aBangledesh for the last 10 years. A) Knowledge can be considered an important asset or resource of a company, but it is not physical in nature. a. C) managers should not look at their job as primarily balancing stakeholder demands; increasing satisfaction among multiple stakeholders can be achieved simultaneously. Advertising is a ______activity. C) the internal analysis of the firm as well as the external analysis of the industry and competitive environment. B) financial resources, physical resources, and the capacity to combine intangible resources. In contrast, intangible resources are quite difficult to see, to touch, or to quantify. B. productive inputs or competitive assets, except human assets and intellectual capital, which are considered capabilities or competencies. Distribution centers. B, a. d. Threats posed by new entrants How do management and employee self-service portals improve organizational efficiency? Note that the decision tree is used to assess resources and capabilities, NOT a firms products, services, or the firm itself. Resources that do not have all four qualities can still be very useful, but they are unlikely to provide long-term advantages. (2020, April 24). According to resource-based theory, organizations that own strategic resources have important competitive advantages over organizations that do not. and more. The bands magic vanishes as quickly as it appeared, however. Southwests culture arose from its very humble beginnings. ~~~~~\text{Pledges/contributions} & &8.33 & 0\\ False Please Explain, What is the relationship between enterprise information management and self-service portals? Centralized decisions It depends on the culture and structure of the organization. The best measure of a company's ability to meet imminent financial obligations is known as the. Capabilities are another key concept within resource-based theory. Quiz 4 Flashcards | Quizlet illustrates that while bundling resources in a unique way can create immense success, preserving and managing these resources over time can be very difficult. Which of the following is considered an intangible resource? a. Walgreens creates value by focusing on the unique capabilities it has built and nurtured and. Which of the following is an example of a technological resource? It. One resource is lead singer Jimmy Mattingly, who possesses immense musical talent. d. Relatively moderate rivalry Strategy formulation is essentially the aim of the organizing, leading, and controlling components ofthe POLC framework Said differently, a firm that enjoys a dynamic capability is skilled at continually updating its array of capabilities to keep pace with changes in its environment. True c. Product quality Some difficult to imitate resources are protected by various legal means, including trademarks, patents, and copyrights. While there are different schools of thought about how strategy comes about, researchers generally agree the common characteristic across successful organizations is: Strategic focus. D) outstanding customer service, innovativeness of products, and reputation. Industry characteristics of an attractive industry, one where firms may achieve strategiccompetitiveness and earn above-average returns includes which of the following? Knowledge b. A resource is valuable to the extent that it helps a firm create strategies that capitalize on opportunities and ward off threats. A Firm's Tangible Resource Includes Which of the Following
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